Flase claim of excess emi
visuiyer
(Querist) 26 July 2025
This query is : Resolved
I had availed a personal loan of ₹6,00,000 at 13% per annum for a tenure of 48 months from Axis Bank. I have been a disciplined borrower and have paid every EMI on time without fail.
However, now the bank is demanding a 49th EMI to close the loan account, which I believe is incorrect and misleading.
When I questioned this additional EMI, Instead of providing the required proof, the bank sent a generic amortization statement on a plain white sheet—without any official signature, or on letterhead, or authentication. This amortisation statement is easily available on various online EMI calculators and does not serve as proof of claim.
Therefore, I requested the following documents:
1. A copy of the original loan sanction letter or agreement.
2. Month-wise loan account/billing statements from 15th July 2021 to 23rd July 2025.
3. A formal written justification explaining the basis for this alleged 49th EMI.
But the bank failed to provide the documents by not responding despite repeated requests and reminders, with an intent to recover the unjustified 49th EMI.
I suspect this could be either: Professional negligence, or A deliberate attempt to extract an excess payment without transparency.
Now, I am in a dilemma:
- If I don’t pay by 12th August 2025, my CIBIL score may be affected.
- If I do pay, the bank may remain silent and refuse refund, continuing this non-transparent practice.
As a senior citizen, this situation is causing me considerable mental stress. Therefore, I humbly seek your expert opinion on:
- Whether I should proceed with payment to safeguard my credit score.
- Or file a civil suit or writ petition against Axis Bank for falsely claiming an excess EMI of ₹16,097 without proof.
Veterans please guide me.
kavksatyanarayana
(Expert) 26 July 2025
You have completed the loan as agreed in 48 instalments and have never paid the amount. Before filing a case in court, just meet the Branch Manager and appraise the issue. If the BM does not agree to it, file a case against the bank by enclosing a copy of the loan agreement and your payment for 48 emi details
